Price went higher but i find it really hard to count it as impulsive waves. Especially the blue wave i is hard to count as 5 waves internally. For the main count to remain in play price will have to go higher fast today. The neckline of the head and shoulder pattern got tested and supported price, this could also help for the bullish case. Should the alternative count prove to be the correct one, it is uncertain if the latest high is wave A of Y or B of X on a larger degree. More time is needed for clear forecasts.
Thursday, February 24, 2011
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